Friday, 22 September 2023

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Cleaves Securities Sticks to Their Buy Rating for Ardmore Shipping (ASC) – TipRanks Financial Blog

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In a report released yesterday, Peter Christensen from Cleaves Securities maintained a Buy rating on Ardmore Shipping (ASCResearch Report), with a price target of $23.00. The company’s shares closed last Friday at $12.51.

Christensen covers the Energy sector, focusing on stocks such as DHT Holdings, Frontline, and Nordic American Tanker. According to TipRanks, Christensen has an average return of 30.5% and a 59.04% success rate on recommended stocks.

Ardmore Shipping has an analyst consensus of Strong Buy, with a price target consensus of $19.50.

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ASC market cap is currently $516.6M and has a P/E ratio of 2.81.

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Ardmore Shipping Corp. engages in the ocean transportation of petroleum and chemical products in international trade through the ownership and operation of a fleet of tankers. It provides shipping services through voyage charters, time charters, and commercial pools. The company was founded by Anthony Gurnee on May 14, 2013 and is headquartered in Pembroke, Bermuda.

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